Steps to Develop a Secure Mobile Banking App

Steps to develop a secure mobile banking app
Steps to develop a secure mobile banking app

If you want to build a secure mobile banking app, you have to hire an expert mobile app development company. Today mobile banking is quite popular among users because mobile apps offer solutions that provide flexibility and convenience with just one tap. This is why many companies are thinking to launch mobile banking apps in the market. With these number of data breaches and security issues are also increasing so safety and data protection should be your top priority in mobile banking app development.

The financial sector is a fast adapter of digital transformation. And bankers understand the value of digitalization because it transforms the user banking experiences.

Moreover, the majority of millennial rather uses a mobile banking app or visit a bank branch to submit a loan application or conduct a money transfer.

According to market research, mobile banking earnings worldwide is reaching USD 1,824 million by 2026. The top gamer in the banking industry includes Citibank, Wells Fargo, USAA, and Ally Bank. Moreover, PayPal is the most used mobile payment app 73%  and Samsung is the least used for payment app.

The shift in the banking industry with the help of technology is becoming more customer-centric. So if you are planning to develop a secure mobile banking app in the market. Now, is the right time to invest in a secure mobile banking app.

In this blog, we shall be discussing why banking apps are vulnerable, the benefits of ebanking, and the steps to develop a secure mobile banking app.

Why banking apps are vulnerable?

If you want to create the most secure mobile banking app you need to take care of all the security measures. Mobile banking apps are usually prone to some serious mobile banking vulnerabilities which may lead to financial security breaches.

Usually, hackers attack the target devices, networks, and data centers, they obtain the means to access the clients’ data and 76% of vulnerabilities don’t require physical access to the client device.

Here are some common causes of vulnerabilities in FinTech apps are:

  • Confidential data disclosure
  • Broken authentication and access control
  • Incorrect security configuration
  • Cross-site scripting
  • Insecure deserialization
  • Insufficient monitoring

Now, the question arises of how to secure mobile banking apps. Ideally, the mobile app development lifecycle should be organized with regular vulnerability checks, configuration assessments, and source code reviews. If you apply security in all the stages of development, you’ll eliminate vulnerabilities before you launch the product in the market.

Benefits of e-banking

There are so many benefits of ebanking apps, with mobile banking apps users can easily get 24/7 bank access. When we look from the business point of view, developing a mobile banking app gives a competitive advantage.

Take a closer look at the benefits of e-banking below down.

Benefits for users  Benefits for business  
  24/7 bank account access    Reach more users
  Fast money transfer    Faster and easier development
  Fast and secure access to the account ( FaceID or Touch ID)    Easier A/B testing
  Notifications set up    More ways to reach out to users like notifications  
  Broader functionality    A better understanding of user behavior
  Cashback    Increase in customer attraction
  User-friendly UI design    More careful analysis
  Spending tracker    Opportunity to make mobile banking software better.  

These are some of the benefits of ebanking apps, now if you are ready to develop your secure mobile banking app read the next section.

Steps to develop a secure mobile banking app

Finally, these are the steps if you are ready to create a mobile banking application.

  1. Conduct market research

Start the development process by conducting market research, you’ll get to know about your competitors, market state, and development trends. Moreover, what your users need and you can easily develop a unique business model.

  • Build and verify a prototype

You need to create a prototype to bring your idea to life and illustrate the app’s logic, structure, and order of design elements, content, and visuals. However, prototyping is quite cheaper than making changes during the development process.

  • Lay the groundwork for security

The best way to keep your app secure is by introducing DevSecOps during the development process if you work with a team that knows the most popular threats. And cheery on the cake if they know how to remove it.

  • Choose technology stack

Every project has its characteristics and features so make sure you choose the right technology stack for accelerating your mobile banking software development.

  • Design the UI/UX

While in the development stage of your app, you should deliver personalized customer experiences that make the account helpful and useful to ensure that the overall app is safe and transparent.

  • Code the app

Now it’s time to implement the app with an in-house team. The first approach works when you have the time and budget to hire banking software development professionals. Moreover, if you want to start the development opt for banking app developers.

  • Enhance your app with third-party integrations

Integrate your app with third-party integrations that will help your app to stand out. Usually, data integration practices provide your app with external features instead of building it from scratch.

  • Release and maintain

The most relaxing stage of the entire development journey is the application release. It is possible only when you have an expert team of developers by your side. They will not help you polish your app but also help you in publishing it on Google Play and App store.

  • Market your app and get feedback

There are different requirements for banking app developers must follow for the smooth submission of your mobile app in the google play stores. Once the app is published, feedback, rating, and reviews will come.

  1. Improve and Update

Lastly, when you get feedback it would be great for your mobile banking app. And start a collaboration with influencers and leaders to test and promote your app. Put time and effort into improving your app.

How much does it cost for creating an e-banking app?

There is no exact answer to this question. When it comes to banking app development cost several factors affect the cost of creating a secure mobile banking app that includes developers’ location, technology stack, and other factors that influence the final cost.

Some of the factors that affect the budget which includes:

  • Work breakdown structure for mobile banking application development.
  • Technology stack
  • Expected deadlines
  • API integration services
  • Engagement framework

However, it may take up to 6 to 8 months to build an MVP. The exact duration depends on the complexity of your project and how expert your development team. The more banking app features you’ll need the longer it will take to develop it.


Mobile banking apps have transformed the traditional way banks function. If you are ready for mobile banking software development simply hire a mobile app development company.

By going through the above blog you can easily pitch your secure mobile bank app idea to the mobile app development company. There will always be room for good e-wallet apps in the market. Usually, banking apps take time to grow the only way to find success is to start it now. It is an excellent time to develop a banking app at this time. If you are looking to create secure mobile banking I hope this blog is helpful for you.